Kimbell Royalty Partners, LP (NYSE:KRP) Shares Sold by Ridgemont Partners Management LLC

Ridgemont Partners Management LLC lessened its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 79.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 598,168 shares of the energy company’s stock after selling 2,356,453 shares during the period. Kimbell Royalty Partners comprises 13.6% of Ridgemont Partners Management LLC’s portfolio, making the stock its 2nd biggest holding. Ridgemont Partners Management LLC owned approximately 0.63% of Kimbell Royalty Partners worth $9,708,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc increased its holdings in Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after buying an additional 19,716 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Kimbell Royalty Partners by 38.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after purchasing an additional 74,098 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Kimbell Royalty Partners by 65.4% during the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock worth $693,000 after purchasing an additional 17,029 shares during the period. Barclays PLC boosted its holdings in Kimbell Royalty Partners by 1,175.1% during the third quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock valued at $219,000 after purchasing an additional 12,538 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Kimbell Royalty Partners by 11.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 10,176 shares during the period. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock opened at $14.18 on Tuesday. Kimbell Royalty Partners, LP has a 12-month low of $13.24 and a 12-month high of $17.07. The stock has a 50-day simple moving average of $15.10 and a 200 day simple moving average of $15.66. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.28%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the transaction, the insider now owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KRP shares. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Bank of America dropped their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Finally, Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Kimbell Royalty Partners has a consensus rating of “Hold” and an average price target of $18.25.

About Kimbell Royalty Partners